Columbia Sportswear Q2 2024 10-Q Filing

TL;DR

**COLUMBIA SPORTSWEAR (COLM) FILED Q2 2024 10-Q - FINANCIALS OUT**

AI Summary

Columbia Sportswear Company filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and business segment information are presented, reflecting the company's ongoing activities in the apparel and footwear industry.

Why It Matters

This filing provides investors with an update on Columbia Sportswear's financial health and operational performance for the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Numbers

• 2024 Q2 — Reporting Period (Second quarter of 2024 financial performance)
• 2024-06-30 — Period End Date (End of the reporting period)
• 2023-06-30 — Prior Year Period End (Comparison point for financial performance)

Key Players & Entities

• COLUMBIA SPORTSWEAR CO (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240801 (date) — Filing date

FAQ

Filing Documents

• colm-20240630.htm (10-Q) — 1755KB
• exhibit-101.htm (EX-10.1) — 108KB
• colmfy24q210qexhibit311.htm (EX-31.1) — 11KB
• colmfy24q210qexhibit312.htm (EX-31.2) — 9KB
• colmfy24q210qexhibit321.htm (EX-32.1) — 4KB
• colmfy24q210qexhibit322.htm (EX-32.2) — 4KB
• colm-20240630_g1.jpg (GRAPHIC) — 212KB
• 0001050797-24-000129.txt ( ) — 7804KB
• colm-20240630.xsd (EX-101.SCH) — 26KB
• colm-20240630_cal.xml (EX-101.CAL) — 51KB
• colm-20240630_def.xml (EX-101.DEF) — 139KB
• colm-20240630_lab.xml (EX-101.LAB) — 454KB
• colm-20240630_pre.xml (EX-101.PRE) — 312KB
• colm-20240630_htm.xml (XML) — 1386KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 1 Condensed Consolidated Balance Sheets (Unaudited) 1 Condensed Consolidated Statements of Operations (Unaudited) 2 Condensed Consolidated Statements of Comprehensive Income ( L oss) (Unaudited) 3 Condensed Consolidated Statements of Cash Flows (Unaudited) 4 Condensed Consolidated Statements of Equity (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 33

Controls and Procedures

Item 4. Controls and Procedures 33

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 35

Risk Factors

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45

Other Information 46

Item 5. Other Information 46

Exhibits

Item 6. Exhibits 46

Signatures

Signatures 47 COLUMBIA SPORTSWEAR COMPANY | Q2 2024 FORM 10-Q Table of Contents SPECIAL NOTE REGARDING

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements often use words such as "will", "anticipate", "estimate", "expect", "should", "may", "believe" and other words and terms of similar meaning or reference future dates. Forward-looking statements include any statements related to our expectations regarding the effectiveness of our investments, future performance or market position, the promotional environment, our utilization of temporary clearance locations, storage and processing capacity, inventory levels, inventory carrying costs, shipment timing, consumer and customer spending and preferences, freight charges, scale efficiencies, inflationary pressures, foreign currency translation, the geopolitical environment, consumer and customer behaviors and expectations, the regulatory environment, the impact of seasonal trends, materiality of legal matters, risk management strategies, the performance of our profit improvement program, capital expenditures, our short and long-term cash needs and our ability to meet those needs, amortization expenses, and maturities of liabilities. These forward-looking statements, and others we make from time to time expressed in good faith, are believed to have a reasonable basis; however, each forward-looking statement involves risks and uncertainties. Many factors may cause actual results to differ materially from projected results in forward-looking statements, including the risks described in Part II, Item 1A of this Quarterly Report on Form 10-Q. Forward-looking statements are inherently less reliable than historical information. Except as required by law, we do not undertake any duty to update forward-looking statements after the date they are made or to conform them to actual results or to changes in circumstances or to reflect changes in events, circumstances or expectations. New factors emerge from time to

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands) June 30, 2024 December 31, 2023 June 30, 2023 ASSETS Current Assets: Cash and cash equivalents $ 341,822 $ 350,319 $ 231,571 Short-term investments 369,276 414,185 71,225 Accounts receivable, net of allowance of $ 5,878 , $ 5,450 and $ 4,979 , respectively 222,628 423,079 343,835 Inventories 823,557 746,288 1,162,519 Prepaid expenses and other current assets 90,527 80,814 91,990 Total current assets 1,847,810 2,014,685 1,901,140 Property, plant and equipment, net of accumulated depreciation of $ 689,511 , $ 671,930 and $ 644,585 , respectively 277,509 287,281 280,578 Operating lease right-of-use assets 360,721 357,295 313,698 Intangible assets, net 79,221 79,908 80,733 Goodwill 26,694 26,694 51,694 Deferred income taxes 97,428 105,574 94,671 Other non-current assets 71,438 67,576 67,290 Total assets $ 2,760,821 $ 2,939,013 $ 2,789,804 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 267,853 $ 235,927 $ 247,416 Accrued liabilities 201,700 272,058 238,988 Operating lease liabilities 72,101 71,086 69,784 Income taxes payable 2,787 17,556 1,080 Total current liabilities 544,441 596,627 557,268 Non-current operating lease liabilities 339,327 336,772 298,062 Income taxes payable 13,615 25,688 23,452 Deferred income taxes 64 66 — Other long-term liabilities 39,412 41,250 36,364 Total liabilities 936,859 1,000,403 915,146 Commitments and contingencies (Note 4) Shareholders' Equity: Preferred stock; 10,000 shares authorized; none issued and outstanding — — — Common stock (no par value); 250,000 shares authorized; 58,752 , 59,996 and 61,358 issued and outstanding, respectively — — — Retained earnings 1,878,972 1,984,446 1,915,990 Accumulated other comprehensive loss ( 55,010 ) ( 45,836 ) ( 41,332 ) Total shareholders' equity 1,823,962 1,938,610 1,874,658 Total liabilities and shareholders' equity $ 2,760,821 $ 2,939,013 $ 2,7

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